ASEAN Air Compressor Market Projected to Generate $1.1 Billion in Near Future

The automotive and construction industries in Association of Southeast Asian Nations (ASEAN) region are growing rapidly. For example, the total vehicle (car) sales in Malaysia grew from 501,700 in 2017 to 565,000 in 2018. In addition to this, the combined value of megaprojects across the ASEAN region was around $3 trillion, as of 2018. 

Air compressors are utilized to increase the pressure of air by reducing its volume. In the automotive and construction industries, air compressors are used for tire inflation, engine construction, car painting, and air conditioning systems, and tunnel, port, bridge, subway, and highway construction, respectively. 

The global ASEAN air compressor market generated revenue of over $0.9 billion in 2018 and is predicted to reach $1.1 billion, growing with a CAGR of 3.6% in the coming years. Apart from construction and automotive industries, air compressors are also used in power, food & beverage, oil & gas, textile, chemical & cement, and industrial manufacturing sectors and heating, ventilation, air conditioning, and refrigeration (HVAC-R) systems.

Among these, the largest demand for air compressors was created by the industrial manufacturing sector during 2014–2018. Various manufacturing industries, such as shipbuilding, steel, cosmetics, electronics, pulp & paper, glass, toy, nuclear, machinery, tobacco, and arms & ammunition, utilize air compressors in plant air and instrument air systems. In the coming years, the requirement for air compressors from the food & beverage industry is expected to grow at the fastest pace. 

The industry makes use of air compressors for processing, manufacturing, and preserving food and beverages, including edible oils, bakery products, sugar, drinks, dairy products, meat products, packaged food, and confectionery products.

The process of producing compressed air via oil-flooded air compressors results in condensation and contamination, due to which the preference toward oil-free air compressors is growing. 

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At the present time, food & beverage companies in the ASEAN region are utilizing oil-free air compressors for product handling, packaging, cutting and peeling food products to prevent their contamination, and in cleaning and manufacturing. 

Furthermore, the need for condensate treatment is eliminated by the use of oil-free compressors, resulting in the reduction of the hidden cost of testing, monitoring, and disposing of the condensate. These compressors use about 6% less energy than conventional compressors.

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Why Growing Integration Platform as a Service (iPaaS) Market Reflects Need to Reduce Operational Costs?

Often, it is not the company with the largest budget or product line which dominates the competition, but the one which quickly responds to the subtle or the highly apparent changes in the internal and external business environment, at the same time, ensuring it does not deviate from the path it originally started treading on. For this, companies are looking to cast away the obsolete information contained in their database and becoming more efficient, by embracing technological advancements. 

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The solution to this problem is being provided by integration platform as a service (iPaaS), which is essentially a comprehensive platform where all the IT devices, databases, and applications are connected. The various services available in the iPaaS market are application integration, cloud service orchestration, real-time monitoring and integration, application programming interface management, data transformation, training & consulting, and support & maintenance. 

Historically, the usage of cloud service orchestration has been the highest, as these services let companies automate all their business processes, which work with all types of automations happening at the lower levels. This helps in getting some specific resources as one integrated platform. Web portal and catalogue access and application program interface (API) are among the numerous levels of functionality, which are leveraged to offer cloud service orchestration.

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Additionally, with cloud service orchestration, companies can coordinate among and control their service delivery operations. It has a separate layer, known as the resource management layer, which manages the IT infrastructure, including virtualization, networking, and applications, as well as the bare metal servers. 

GLOBAL INTEGRATION PLATFORM AS A SERVICE (IPAAS) MARKET

By Service Type – Cloud Service Orchestration (Cloud Service Automation, Reporting & Analytics and Training, Consulting & Integration), Application Integration, Application Programming Interface Management, Real-Time Monitoring and Integration, Training and Consulting, Data Transformation and Support and Maintenance

By Deployment Type- Hybrid Cloud, Private Cloud, Public Cloud

By Organization Size – Large Enterprises and Small and Medium Enterprises

By Industry- Banking, Financial Services, and Insurance (BFSI), Telecommunications, Healthcare and Life Sciences, Government and Public, Manufacturing, Media and Entertainment, Education, Consumer Goods and Retail and Others (including Military, Hospitality and Oil & Gas)

By Region – North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa

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Industrial Refrigeration Systems Market to Register a 5.8% CAGR during 2018–2023

The food and beverages processing industry is witnessing rapid growth in developing countries. On an average, 90% of the produced food is processed in developed countries such as the U.S. While the growth of this industry was quite slow in developing countries, as compared to developed nations, in the past, the requirement for processed food is projected to increase significantly in the coming years. 

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The reason for this is the rising inclination toward ready-to-eat meal and growing number of food outlets in emerging economies. This rapidly increasing production and consumption of processed food in developing nations is further resulting in the rising requirement for industrial refrigeration systems.

Industrial refrigeration systems are utilized in different applications in various industries including chemicals & pharmaceuticals, oil & gas, and food & beverages. Some other industries which make use of these systems include construction and manufacturing. Among these, the largest demand for industrial refrigeration systems was created by the food & beverages industry during 2013–2017.

The fastest growth in demand for industrial refrigeration systems is projected to be registered by the chemicals & pharmaceuticals industry. The oil refining, petrochemical, and chemical industries require refrigeration for the preservation of compounds, condensation of gases, and dehumidification of air. In the pharmaceutical industry, refrigeration is needed for sterilization of products and maintenance of cleanliness of products. 

Industrial refrigeration systems are the refrigeration components utilized in process cooling and cold storage for industrial applications. In 2017, the global industrial refrigeration systems market generated a revenue of $23,862.7 million and is expected to advance at a 5.8% CAGR during the forecast period (2018–2023), as per a report by P&S Intelligence.

Additionally, the chemical industry needs advanced refrigeration to maintain the temperature limits of certain raw materials and semi-finished and finished products. Hence, the requirement for industrial refrigeration systems is increasing due to these factors. 

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How is Growing Chronic Disease Burden Leading Biobanking Market Growth?

It has been estimated that the global disease burden of chronic diseases would increase to 57% by 2020, which was about 46% in 2001, as per the World Health Organization. It is further predicted that chronic diseases would account for three-quarters of all deaths globally by 2020.  Majority of the deaths related to chronic diseases are attributable to cardiovascular diseases, and more cases of diabetes and obesity are being observed. Risk factors such as obesity, high blood cholesterol, and high blood pressure are common causes of four major chronic diseases: cancer, cardiovascular diseases, chronic obstructive pulmonary disease, and type 2 diabetes. Further, unhealthy lifestyle habits, such as tobacco smoking, sedentary lifestyle, alcohol abuse, and poor nutrition, lead to the development of such diseases.  Therefore, with the increasing burden of many life-threatening diseases, research activities for finding a cure for these diseases as well as treatment using unconventional therapies, such as organ transplantation, tissue grafting, regenerative medicine, are witnessing a rise, thereby resulting in the high demand for biobanking methods for the preservation and utilization of cord blood cells and stem cells.

A biobank is a repository which stores, analyses, processes, and transports samples and specimens, such as tissues, biological fluids, cell lines, and human waste products. These samples and specimens are used for clinical diagnosis, research studies, and regenerative medicine.  A P&S Intelligence study showed that the biobanking market generated revenue of $25.8 billion in 2018 and is predicted to witness a 6.2% CAGR in the coming years. 

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Biobanking is used for various applications, such as regenerative medicine, clinical research, and life science & medical research. In the past, the highest demand for biobanking facilities was generated from the clinical research domain due to the requirement for specimens for establishing the safety and efficacy of medication and therapies.

The biobanking ecosystem includes software, consumables, services, and equipment.  In 2014–2018, the highest demand was for the consumables, as they are required for analysis of each sample. Consumables are used for storage, analysis, and processing of the samples and specimens.  Storage consumables are used for storing the samples; commonly utilized consumables are reagents, such as methanol, ethanol, and formaldehyde and storage units, such as vials and test tubes. Maxwell RSC tissue DNA kit, plasma or serum kits are used for analyzing samples. In fact, in the coming time, consumables are expected to continue generating the high demand due to their wide application in research activities.

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Customized Peptide Synthesis Market Size, Trends and Future Scope

The customized peptide synthesis market is projected to generate a revenue of $390.0 million by 2024 as per a recent P&S Intelligence study. The market is being progressively driven by technological innovations, growing burden of cancer and infectious diseases, increasing investments and funding for protein-based research, and rising research activities in synthetic biology.

There are two main types of products available in the customized peptide synthesis market: reagents and equipment. Among the two, the reagents category is expected to witness the faster growth during the forecast period, registering a CAGR of 6.8%. The reason for such a growth of the domain would be the heavy usage of a wide variety of reagents, including additives, substrates, precipitation agents, buffers, and others.

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Now talking about the application segment, commercial application is expected to be the fastest growing in the customized peptide synthesis market during the forecast period, registering a CAGR of 6.9%. The inclusion of modified amino acids and recent advancements in chemical peptide synthesis have expanded the commercial potential of customized peptides. Moving further to the technology segment, the solid-phase peptide synthesis (SPPS) technology is projected to gain the most ground during 2019–2024, advancing at a CAGR of 6.9%.

New research findings would give the customized peptide synthesis market players a great opportunity to discover new drugs derived from peptides. For instance, in 2017, the anorectic effect of PYY3–36, which is a fragment of peptide YY, in rats was reported by scientists at Takeda Pharmaceuticals Company Ltd. Further, China Medical System Holdings Limited developed XinHouSu, an injectable recombinant human brain natriuretic peptide, to treat acute heart failure. XinHouSu, which is currently available only in China, collected $62.3 million in revenue in 2017, which amounted to an 18.9% growth from 2016.

Such significant discoveries based on intensive research are projected to help in the growth of the customized peptide synthesis market in Asia-Pacific (APAC). During the forecast period, the market in APAC is predicted to advance at a CAGR of 7.9%. The growth would be mainly driven by low raw material prices, technological advancements, increasing research activities in life sciences, rising use of peptides in drug discovery, and availability of funds for research and development.

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Business Continuity Management Market Latest Innovations, Drivers, Dynamics And Strategic Analysis, Challenges

The operational risks in organizations, such as model risk, cybersecurity risk, conduct risk, and vendor risk, are on a rise owing to the stiff regulatory compliances and fines and increasing economic uncertainties. In order to deal with these, the enterprises are demanding real-time risk assessment, robust risk mitigation, and greater risk accountability from business and management lines. In addition to this, as the financial services are expanding their businesses, the need for processing accountability and transparency and ensuring proactive risk mitigation is also growing. 

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Basically, BCM is a proactive planning process which makes sure that the products and services of a business are delivered without any delay in the event of any disruption. This is done through the development of plans, strategies, and actions that provide alternative solutions for keeping the operations or businesses going and ensuring that the enterprise doesn’t face any serious damage or loss. 

A key trend in the BCM market is the growing adoption of business impact analysis (BIA), which is because BIA assists SMEs and large enterprises in identifying critical activities and processes, such as return of investment. Several aspects included under BIA are storage optimization, increased expenses, regulatory fines, contractual penalties, delay of new business plans, modern workload protection, lost/delayed sales and income, network security, and customer dissatisfaction. 

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As per a research conducted by P&S Intelligence, the global BCM market reached a value of $359.2 million in 2018 and is projected to attain $875.7 million in 2024, advancing at a 15.4% CAGR in the coming years. Apart from risk management, the different solutions provided by BCM are government, risk, and compliance, crisis management and audit management. Furthermore, BCM also offers managed and professional services to the enterprises.    

Take for instance the surging cybersecurity risks, due to which the businesses have become more aware of the significance of being able to respond and recover from such attack. Since business continuity management (BCM) solutions and services can protect enterprises from business disruptions in the event of a cyberattack and help them deal with other operational risks, their demand is rising.

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How is Rising Requirement for Energy-Efficient Products Driving Photonics Market?

The demand for energy-efficient products is rising across the world, as these products work efficiently for long operating hours and have low maintenance costs. The governments of different countries are also launching several renewable energy programs for reducing greenhouse gas emissions from various sectors such as industrial, transport, and construction.

Attributed to these factors, energy efficiency has become an important parameter for designing different products including high-performance computing systems. 

As per a report by P&S Intelligence, in 2019, the global photonics market generated a revenue of $576.8 billion and is projected to reach a value of $1,214.5 billion by 2030, registering a 6.9% CAGR during the forecast period (2020–2030). 

Other than LEDs, lasers, optical components & systems, and sensors & detectors are the product types of photonics. Among all these, the largest demand is predicted to be created for optical components & systems during the forecast period. Furthermore, the companies are increasingly making use of energy-efficient solutions such as organic light emitting diodes (OLED) and light emitting diodes (LED) that consume less power in order to comply with the government regulations.

Solutions such as OLED and LED are also referred to as photonics products. Photonics is the science of photon generation, detection, and manipulation via emission, transmission, sensing, switching, signal processing, modulation, and amplification. 

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There are several applications of photonics, namely information technology (IT), communication, measurement & image processing, production technology, display, photovoltaic, medical technology & life science, and lighting. Some other applications include holography and terahertz imaging.

The highest demand for photonics products was created for production technology applications during 2014–2019 and the situation is expected to remain the same during the forecast period as well.

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